The American mutual fund industry is going strong, according to Todd Ruppert
, CEO and president of T. Rowe Price Global Investment Services
. British business paper City A.M. reported
on Ruppert's comments at a fundster conference on Monday in London.
The rest of the world, he said, hasn't quite kept up. Ruppert attributed the difference in part to the comparatively low fees American investors enjoy. And while Asia and Europe have seen investments pour into new funds, older funds have picked up the majority of flows in America, which Ruppert said is a sign of the strength of the existing industry in America.
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